We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of SeaChange International, Inc. (“SeaChange” or the “Company”) (NASDAQ: SEAC) in connection with the proposed merger of the Company with privately-held Triller Hold Co LLC (“TrillerVerz”). Under the terms of the merger agreement, SeaChange and TrillerVerz will combine with SeaChange stockholders owning approximately 2.3% of the surviving company and the holders of TrillerVerz owning approximately 97.7% of the surviving company. At close of the transaction, SeaChange will change its name to “TrillerVerz Corp” and is expected to be listed on NASDAQ under the new ticker symbol “ILLR.”
WeissLaw LLP is investigating whether (i) SeaChange’s board acted in the best interest of SeaChange’s stockholders in agreeing to the proposed transaction, (ii) the merger consideration is fair to the Company’s stockholders, and (iii) all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to SeaChange’s stockholders.